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The Latest Breaking News from The Ministry of Finance

Do you lose your interest and deposit if you have multiple PPF accounts? Here's what the rules say

Discovering you have two Public Provident Fund accounts can be a common oversight, but it's crucial to address. Indian regulations strictly permit only one personal PPF account. Learn how to identify and regularize duplicate accounts, understand the implications for your deposits and interest, and what steps to take to avoid…

The Economic Times

Parliamentary panel moots higher education spending, says NEP's 6% GDP target unmet

A parliamentary committee has flagged current higher education funding as inadequate. It urges an increase to six percent of GDP, aligning with the National Education Policy-2020. The committee noted a lack of significant growth in enrollment ratios. The government stated allocations are based on departmental needs and within budget ceilings.

The Economic Times

Govt extends anti-dumping duty on aluminium foil imported from China & 3 other nations till December

India has extended anti-dumping duties on aluminium foil imports. The measure will remain in effect until December 15, 2026. This decision impacts imports from China, Malaysia, Thailand, and Indonesia. The Ministry of Finance issued a notification amending previous customs regulations. This action follows requests from domestic companies concerned about unfair…

The Economic Times

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Debt-free energy transition is possible

Thailand's energy transition is on the agenda, but in the most expensive way possible. On May 9, the government published an emergency decree authorising the Ministry of Finance to borrow up to 400 billion baht, of which half is for energy crisis relief and the other half (200 billion baht)…

Bangkok Post

State Bank of India hands over Rs 8,813 cr dividend cheque to government for FY26

SBI presented a dividend cheque of Rs 8,813 crore for the financial year 2025-26 to Union Finance Minister Nirmala Sitharaman. This payout follows SBI's strong financial performance for FY26. The bank reported a net profit of Rs 80,032 crore and an operating profit of Rs 1,23,015 crore. SBI's overall business…

The Economic Times

Have unclaimed deposits, insurance, mutual funds? Government launches single portal to trace forgotten assets

The Ministry of Finance has launched a new portal to help citizens find forgotten money. This initiative, called 'Your Money, Your Right', allows people to trace unclaimed bank deposits, insurance policies, and mutual fund investments. It also helps shareholders claim unpaid dividends and shares.

The Economic Times

Japan to introduce new range of JGBs targeting retail buyers, sources say

Japan is set to launch new government bonds aimed at individual investors. This move comes as the central bank scales back its bond buying. The new offerings will include inflation-linked and super-long bonds. The Ministry of Finance is exploring this strategy to broaden the investor base. This initiative seeks to…

The Economic Times

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DA hike for Gramin Dak Sevaks: Postal employees to get 60% DA from this date; see impact on their payouts

Gramin Dak Sevaks (GDS) will now receive a Dearness Allowance (DA) of 60% of their basic Time Related Continuity Allowance (TRCA) starting January 1, 2026. This increase aligns GDS DA rates with those of central government employees. The Department of Posts confirmed this revision following an approval from the Ministry…

The Economic Times

IndiGo’s dominance is not about ‘success’. Here’s what Sanjeev Sanyal overlooked in his ANI interview

When Sanjeev Sanyal, Principal Economic Adviser in the Ministry of Finance, argued in a recent ANI interview with Smita Prakash that IndiGo’s dominance is not the real issue because “you can’t tax success” and that policy should instead “ensure churn”, he was appealing to a familiar liberalisation-era instinct in Indian…

Newslaundry

In Norway we see ourselves as ethically virtuous – so why is our oil wealth enabling genocide?

With an election looming, will politicians finally listen to the majority who want to divest from Israeli arms companies, asks Oslo academic Sindre Bangstad

The Guardian - UK

Japan's 10-Year Yield Hits 1.59%, Highest Since 2008 — Lawrence McDonald Warns Global Bond 'Anchor' Is Breaking Amid Stimulus, Tariff Jitters

Japan’s 10-year government bond yield soared above 1.59% on Tuesday, reaching its highest level since 2008, as markets price in potential fiscal stimulus ahead of the July 20 Upper House election. The surge comes despite the Ministry of Finance reducing super-long bond issuances, signaling strong upward pressure on shorter-term rates.

Benzinga

After SC verdict, why were over 8,000 electoral bonds still printed?

In February 2024, the Ministry of Finance ordered the State Bank of India to stop the printing of electoral bonds. This was 12 days after the Supreme Court declared the scheme unconstitutional.

Newslaundry

Know all about new SEBI Chief Tuhin Kanta Pandey

Tuhin Kanta Pandey, who is a 1987-batch IAS officer from the Odisha cadre, would replace Madhabi Puri Buch, who completes her three-year tenure on Friday, February 28. Read further on Dynamite News:

Dynamite News

Lawrence Wong: Singapore’s New Prime Minister Seeks to Be a ‘Servant’ of the People

Known as a consumate technocrat, Wong was sworn in on Wednesday, becoming only the fourth leader of the island nation since independence

Caixin Global

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International Business Times

China Says To Sell Initial Batch Of Long-dated Bonds This Week

The central government will begin issuing some 30-year bonds on Friday as part of a planned sale of more than $138 billion of debt, according to a notice posted to the ministry's website.

The Hindu

Rajiv Kumar | A bureaucrat for all seasons

Chief Election Commissioner Rajiv Kumar's career, including abrupt resignations and political differences, leading to his current position.

Dynamite News

Public sector banks asked to reassess gold loan process amid debt risk concerns

The Ministry of Finance has written to public sector banks to reassess their gold loan procedures amid concerns over risky debt as gold prices surge. Read further on Dynamite News:

The Hindu

Why sustainable funding matters for India’s ‘science power’ ambition | Explained

The National Science Day theme for 2024, "Science for Sustainable Development", also highlights India's need to increase its R&D funding if it is to become a developed nation by 2047.

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The Hindu

Acknowledge India’s economic successes too

The Indian economy has grown at an impressive rate in the post-COVID-19 years, and the tagline, ‘fastest-growing major economy,’ calls for some elaboration

The Hindu

The legality of the electoral bonds scheme | Explained

With the Supreme Court set to hear final arguments on October 31, The Hindu looks at the contentious issues surrounding the legality of the scheme

Caixin Global

China Names Lan Foan to Be New Finance Minister

Appointment of the public finance specialist was widely expected after he was named Communist Party chief of the Ministry of Finance

Dynamite News

"Gangajal is exempted from GST", clarifies govt after Congress mounts attack

The Central government on Thursday clarified that 'Gangajal', water of the Ganga river used during prayers by households across the country, is exempted from Goods and Services Tax (GST). Read further on Dynamite News:

The Hindu

Details of unaccounted-for wealth highly classified: Government

National Institute of Public Finance and Policy (NIPFP) refused to reveal information on unaccounted income/wealth inside/outside India, citing economic interest of country.

Bangkok Post

Backup plan in works in case budget is delayed

The Ministry of Finance is preparing a backup plan to sustain the economy if delays in forming a new government affect budget disbursement for the 2024 fiscal year starting on Oct 1.

Bangkok Post

Brighter economic outlook foreseen in H2

Business operators expect economic expansion in the next six months to be led by tourism growth and rising demand for industrial goods and farm products, according to the Ministry of Finance.

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